Marketing 350 Project One Final Report

Marketing 350 Project One Final Report - Marketing 350...

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Marketing 350 Project One Final Report Professor Ball University of Nebraska-Lincoln Fall 2011 Group Members: Katie Lewis Nathan Walden Lindsey Killeen Description of the problem: 2. The problem was to define the target market for a local wine tasting. We were given a database of customers that included several variables on each of the customers within the sample; anything from age, sex, income, magazine subscriptions, and even the number of children at home. Our mission was to separate the population into a smaller demographic that would increase our profit the most. We used the SPSS program to data mine certain variables that would give us feedback on whether or not the variables we had selected would give us an invitation rate and response rate that would generate notable profit on the project. Description of data mining method: 3. We made a means chart for comparing those who paid for the wine tasting and their response (yes or no) to the selected variables in the SPSS report; we were given the means and standard deviations for the customers responses and for each variable we had selected. We then went through the table and we took the means of the yes responses subtracted from the no responses and divided by the standard deviation of the population. These calculations gave us the difference in terms of standard deviations that exists between those who answered “yes” and those who answered “no.” The larger this difference, the more focus and weight we applied to
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Marketing 350 Project One Final Report - Marketing 350...

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